Watches of Switzerland Regent St -- deposit

Hi,

I'm looking at purchasing my first Rolex Submariner (116618LN). It's my dream watch.

I popped in to Watches of Switzerland on Regent Street and the chap told me that they have no stock, but I could register my interest so I did. He also asked me to put down a 10% discount which I did.

Later, I discovered on another forum from May 2019 suggests that WoS do not take deposits.

The receipt shows the watch that I have requested and is fully itemised. The man told me that he could not provide a specific ETA, because Rolex may announce new models on 1st September. He told me I may have to wait 3-4 months and the pricing may increase and the deposit does not lock in that price. Apparently there is a watch in Glasgow and he has made a request to see if I could receive that item.

I also enquired about a stainless steel submariner date, which I understand is hard to come by. He has requested this for me and says that this would take some time.

Does this sound reasonable? If a deposit has been taken, am I likely to actually be on a list for this gold sub? I haven't purchased from WoS before.

Thank you

That's interesting. I've registered my interest at the store in the last couple of months for certain Tudor and Rolex models and they have never asked me to leave a deposit. With that said, you seem to have dealt with someone who had a lot more confidence in being able to actually get you the watch: I have not previously been given a timeline before, and have yet to receive a call for any watch for which I have registered my interest. I have also never registered my interest for anything as expensive as that particular model (all the watches I have enquired about have been on steel bracelets rather than gold), so maybe that factors into it. I would expect the steel models are harder to come by whereas they might have more confidence in being able to get yours in soon.

One would certainly hope that the taking of a deposit indicates that. Best of luck and do post some photos when it arrives!

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Originally Posted by samrolex94

Hi,

I'm looking at purchasing my first Rolex Submariner (116618LN). It's my dream watch.

I popped in to Watches of Switzerland on Regent Street and the chap told me that they have no stock, but I could register my interest so I did. He also asked me to put down a 10% discount which I did.

Later, I discovered on another forum from May 2019 suggests that WoS do not take deposits.

The receipt shows the watch that I have requested and is fully itemised. The man told me that he could not provide a specific ETA, because Rolex may announce new models on 1st September. He told me I may have to wait 3-4 months and the pricing may increase and the deposit does not lock in that price. Apparently there is a watch in Glasgow and he has made a request to see if I could receive that item.

I also enquired about a stainless steel submariner date, which I understand is hard to come by. He has requested this for me and says that this would take some time.

Does this sound reasonable? If a deposit has been taken, am I likely to actually be on a list for this gold sub? I haven't purchased from WoS before.

Thank you

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Sounds to me like you’ve got more money than sense

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Originally Posted by Lantenac06

That's interesting. I've registered my interest at the store in the last couple of months for certain Tudor and Rolex models and they have never asked me to leave a deposit. With that said, you seem to have dealt with someone who had a lot more confidence in being able to actually get you the watch: I have not previously been given a timeline before, and have yet to receive a call for any watch for which I have registered my interest. I have also never registered my interest for anything as expensive as that particular model (all the watches I have enquired about have been on steel bracelets rather than gold), so maybe that factors into it. I would expect the steel models are harder to come by whereas they might have more confidence in being able to get yours in soon.

One would certainly hope that the taking of a deposit indicates that. Best of luck and do post some photos when it arrives!

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Hi,

Yes -- I got the impression that the guy was quite confident that he could get it for me.
I did push a fair bit for an ETA. He asked if I would be willing to make a deposit and I said that would be acceptable but I would very much like some form of ETA. He then spent around 15-20 minutes on the phone.

I went to another Watches of Switzerland (Oxford St) to see if they had any stock but they didn't. The guy there was very helpful and after giving him my details he was able to pull up my requests on the system and confirm that Regent St had indeed registered my interest for the gold and SS subs. He advised me to stick with a single AD as that is the best way to build a relationship and get access to the harder to acquire pieces like the SS sub.

Sounds like they will be fine, and hopefully they’ll get you your steel model to go with the gold too.

I visited teh same store about 3 weeks ago and registered my interested for an OP. No deposit was asked for.

Maybe the deposit is because it's Gold and they want to make certain you're serious about the watch. Being a new customer I mean.

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Originally Posted by sickie

Maybe the deposit is because it's Gold and they want to make certain you're serious about the watch. Being a new customer I mean.

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I figure that makes sense.

As I said to the man, if you had it in store now, I'd be buying today on my card.

Apparently there could be new models in September, but Baselworld 2020 was cancelled so no idea.

To secure the model I wanted,I had to put down a 50% deposit. Then wait a few months. My guess is that the OP will get what he wants quite quickly. Money talks , just asking to go on a ‘list;.....not so much. So, if asked for a deposit I’d take that as a sign of real progress.

I have a feeling you wont be waiting too long for it. A deposit is a commitment to buy from both sides. Hope I'm right

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?


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Don't think I have heard of WoS asking for deposits and it's not often mentioned on here for any other ADs. On the one hand, there might be some benefit in sorting out the "serious" buyers, but there's presumably a whole lot of admin maintaining and accounting for deposits. To do it every now and again seems like the worst of all worlds for the retailer.

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Originally Posted by Mysqueek

I have a feeling you wont be waiting too long for it. A deposit is a commitment to buy from both sides. Hope I'm right

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This

The only time my AD has taken a physical deposit from me for an allocation piece I have had it within the month - CHNR and Cameron 126660.

I wish they would take my deposit for a BLRO:dispirited:

Many thanks for the replies so far. This will be my first Rolex and I am relatively green behind the ears with this market so I appreciate these responses.

I will keep you all posted. I’m glad I’ve found a UK based forum.

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Originally Posted by Stonewood

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?


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Of course. But I am not sure eBay is a good outlet. I’m also aware of gray resellers but I am also not keen on the matter. I am willing to wait a little. I am however coming to the realisation that I may not be able to obtain a stainless steel sub via an AD.

RoS also appeal to me because of the potential 10 year warranty. Not clear on what this covers, but ho hum.

Cheers guys

The deposit is a positive thing in my book. Commitment from both sides, and I suspect a real indication that you'll actually get one quite soon. I suspect part of this is the dealer will need to pay for that watch and wants to ensure a quick turnaround. This is a non-issue with steel models that sell immediately.

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Originally Posted by Hooshabak

Sounds to me like you’ve got more money than sense

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What an unnecessary statement..?

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Originally Posted by Stonewood

OP. There are a couple currently in the UK on eBay for £28k. Have you seen them?

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Meh I'm with the OP on this one, same price near enough to buy brand new and he'll likely get it quickly.

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Originally Posted by samrolex94

Many thanks for the replies so far. This will be my first Rolex and I am relatively green behind the ears with this market so I appreciate these responses.

I will keep you all posted. I’m glad I’ve found a UK based forum.



Of course. But I am not sure eBay is a good outlet. I’m also aware of gray resellers but I am also not keen on the matter. I am willing to wait a little. I am however coming to the realisation that I may not be able to obtain a stainless steel sub via an AD.

RoS also appeal to me because of the potential 10 year warranty. Not clear on what this covers, but ho hum.

Cheers guys

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That’s fair enough. I hear what you are saying. The 10 year warranty is a definite plus point. Once you have bought that gold submariner from them then I’m sure you would get a stainless steel sub quicker than most. Let us know how it goes. Good luck. Cheers


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Originally Posted by M1011

What an unnecessary statement..?

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+1


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I don't know about more money than sense, but I certainly wouldn't provide an interest-free loan to a listed company with liquidity of over £80m in return for a vague promise. The deal should be 'we can get such and such a watch for delivery on the xth of next month but we will need a deposit to go ahead and process your order', anything else is taking the urine. What you have agreed to is like a rotten herring in the moonlight - looks nice and shiny but stinks to high heaven.

With the deposit he will almost certainly get the watch; without the deposit, he won’t. He can sit on his high-horse, insist on no deposit, and whistle into thin air. But how does that help? The store holds the cards.

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Originally Posted by SimonK

I don't know about more money than sense, but I certainly wouldn't provide an interest-free loan to a listed company with liquidity of over £80m in return for a vague promise. The deal should be 'we can get such and such a watch for delivery on the xth of next month but we will need a deposit to go ahead and process your order', anything else is taking the urine. What you have agreed to is like a rotten herring in the moonlight - looks nice and shiny but stinks to high heaven.

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Rotten herring in the moonlight hahaha! Never heard that one. Love it! I could describe that to a few girls when I have had my beer goggles on!


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Rolex seems to be speeding up deliveries. I have always dealt with Joe at WoS Oxford Street and he got me a James Cameron in 5 weeks.
I had to register but no deposit was required.

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Originally Posted by Speedy2254

Rolex seems to be speeding up deliveries. I have always dealt with Joe at WoS Oxford Street and he got me a James Cameron in 5 weeks.
I had to register but no deposit was required.

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Churning them put before disco? I'm picking a D-Blue up later this week now too. Hope you're still enjoying yours.

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Originally Posted by Hooshabak

Sounds to me like you’ve got more money than sense

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Never takes long for a troll to show up these days


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I don’t think they’re particularly hard to get so if they’ve taken a deposit I’m sure you’ll get one quickly. If you’d have popped to Mount St Pragnells have had one in stock the past few times I’ve been there.

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Originally Posted by johnthemull

Never takes long for a troll to show up these days


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Peak irony

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Originally Posted by wileeeeeey

Churning them put before disco? I'm picking a D-Blue up later this week now too. Hope you're still enjoying yours.

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Oh yeah! Loving it, it's running a bit fast, around +4 seconds a day, but RSC have said give it a month to bed in & if it's not right by then they'll regulate it for me.
Where's yours coming from (if you're at liberty to say), how long have you been waiting?

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Originally Posted by Speedy2254

Oh yeah! Loving it, it's running a bit fast, around +4 seconds a day, but RSC have said give it a month to bed in & if it's not right by then they'll regulate it for me.
Where's yours coming from (if you're at liberty to say), how long have you been waiting?

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By the time a month is up RSJ will nearly be open again. Might be an easier visit.

Mine is coming from the same AD as the others. Couldn't stomach grey and I didn't get any trades from the thread on SC. I was waiting maybe 18 months there and it was offered over lockdown but I took the SD43 instead. I then went back and tried to get the D-Blue but it was already gone. Think I've gone on, off, then back on their list. Really looking forward to it.

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Originally Posted by wileeeeeey

By the time a month is up RSJ will nearly be open again. Might be an easier visit.

Mine is coming from the same AD as the others. Couldn't stomach grey and I didn't get any trades from the thread on SC. I was waiting maybe 18 months there and it was offered over lockdown but I took the SD43 instead. I then went back and tried to get the D-Blue but it was already gone. Think I've gone on, off, then back on their list. Really looking forward to it.

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It'll be brilliant, the dial makes me grin like a loon it's so cool.
Doing a bit of basic maths the gain is actually more like 3.57 seconds per day so it's creeping back towards acceptable limits (+/- 2 spd).
I live in Maidstone so West Malling is easy to get to now I'm working from home...

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Originally Posted by SimonK

I don't know about more money than sense, but I certainly wouldn't provide an interest-free loan to a listed company with liquidity of over £80m in return for a vague promise. The deal should be 'we can get such and such a watch for delivery on the xth of next month but we will need a deposit to go ahead and process your order', anything else is taking the urine admission writer. What you have agreed to is like a rotten herring in the moonlight - looks nice and shiny but stinks to high heaven.

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That's actually makes sense

So chaps, I’ve seen the new lineup and contacted the guy at WOS. I’ve offered to pay any extra deposit (I note it’s £1k dearer) and asked to register my interest in the new model.

Will keep you posted.
Still haven’t heard about the stock that was in Glasgow, but I did send him an email the day after registering my deposit and he acknowledged my requests and said he hoped to give me good news soon.

Cheers.

As an aside, could anyone recommend some insurance? This is my first time insuring such an expensive item. I have contacted Anthony Wakefield and they have quoted me £440. This seems a good price given my age (26) and that I intend to wear it. This covers me for accidental, loss, theft and 60 days international travel with no excess. They will also cover storage with an appropriate safe.

AssetSure wanted £1500/yr after I told them my age..

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Originally Posted by samrolex94

As an aside, could anyone recommend some insurance? This is my first time insuring such an expensive item. I have contacted Anthony Wakefield and they have quoted me £440. This seems a good price given my age (26) and that I intend to wear it. This covers me for accidental, loss, theft and 60 days international travel with no excess. They will also cover storage with an appropriate safe.

AssetSure wanted £1500/yr after I told them my age..

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A gold Sub at 26! I'm a few years older than you and slightly envious of your budget! Why did you go for the gold variant out of interest?

As for insurance, personally I'd add an excess if it can cut down the premium. I pay exactly 1% of RRP for insurance on my Rolex through my home insurance, with a £250 excess, and the comp sounds the same as what you've described (minus the safe requirement).

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Originally Posted by M1011

A gold Sub at 26! I'm a few years older than you and slightly envious of your budget! Why did you go for the gold variant out of interest?

As for insurance, personally I'd add an excess if it can cut down the premium. I pay exactly 1% of RRP for insurance on my Rolex through my home insurance, with a £250 excess, and the comp sounds the same as what you've described (minus the safe requirement).

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My business is growing well and I was told by my accountant that filing a SIPP and ISA every year is pragmatic, but boring and that I should enjoy myself. With excess cash in the business and concerns over how money presses seem to be on full blast in response to CV, I figure it might also be cheaper to treat myself sooner than later.

I’ve had my eye on the Submariner for years but only wanted to make a purchase when I was truly comfortable with the direction my life was going in.

Humorously, I actually always had my eyes on the blue variant. I passed on a black model at Heathrow in T5 in July (but tried it on). After seeing the blue model and realising that it’s slightly obscene in formal settings, I decided the black was a safer option. Had I known before, I could’ve had one on my arm already.

I am interested in the gold variant because the stainless steel one seems to be out of reach until I order at least one PM model, and even then I’m skeptical.. the two tones never took my fancy. I figure it’s a big outlay but I only anticipate buying one PM, and they supposedly last a lifetime if serviced properly. I won’t be diving with the thing, that’s for sure. White gold model also looked good to me, particularly because it’s more discrete and looks like an SS model. The white gold with a blue face looked great, but today’s new lineup of blue dial with a black face doesn’t look great for me. If I do one day get an SS sub, I’ll keep it for a gift for someone.

I will indeed enquire about the excess. With AssetSure I noticed that it did very little in reducing my policy, but 26 is the earliest age that they ensure from and as soon as I mentioned the Rolex I assume the guy on the line thought I was some kind of pimp or dealer..

I’m just hoping I can get my hands on one without bending over backwards. I can appreciate a wait, but I don’t want a load of crap from the dealer that others have reported.

Cheers

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Originally Posted by samrolex94

My business is growing well and I was told by my accountant that filing a SIPP and ISA every year is pragmatic, but boring and that I should enjoy myself. With excess cash in the business and concerns over how money presses seem to be on full blast in response to CV, I figure it might also be cheaper to treat myself sooner than later.

I’ve had my eye on the Submariner for years but only wanted to make a purchase when I was truly comfortable with the direction my life was going in.

Humorously, I actually always had my eyes on the blue variant. I passed on a black model at Heathrow in T5 in July (but tried it on). After seeing the blue model and realising that it’s slightly obscene in formal settings, I decided the black was a safer option. Had I known before, I could’ve had one on my arm already.

I am interested in the gold variant because the stainless steel one seems to be out of reach until I order at least one PM model, and even then I’m skeptical.. the two tones never took my fancy. I figure it’s a big outlay but I only anticipate buying one PM, and they supposedly last a lifetime if serviced properly. I won’t be diving with the thing, that’s for sure. White gold model also looked good to me, particularly because it’s more discrete and looks like an SS model. The white gold with a blue face looked great, but today’s new lineup of blue dial with a black face doesn’t look great for me. If I do one day get an SS sub, I’ll keep it for a gift for someone.

I will indeed enquire about the excess. With AssetSure I noticed that it did very little in reducing my policy, but 26 is the earliest age that they ensure from and as soon as I mentioned the Rolex I assume the guy on the line thought I was some kind of pimp or dealer..

I’m just hoping I can get my hands on one without bending over backwards. I can appreciate a wait, but I don’t want a load of crap from the dealer that others have reported.

Cheers

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Cool - good for you if you're financially in a position to do it.

However, your post does suggest that all things equal you'd prefer a steel Submariner, am I right? If so, why not just buy one grey? They're available in plentiful supply from grey dealers, just pick a trusted dealer (the forum can help) and you'll have a new Submariner on your wrist within a week that was sold in the Rolex AD likely days beforehand. Yes you'll pay a premium over RRP, but an awful lot less than the gold one you're planning the buy and the Subs tend to hold their premium over time anyway.

Just saying because it sounded like the steel was what you really wanted and you're viewing the gold as a necessary step. I may have got the wrong impression.

Is your deposit refundable?

Edit: Also take this with a pinch of salt and you probably know this better than I do, but don't forget that things like SIPP and ISA investments compound over time so getting money in early can pay much bigger dividends down the line. Also I have no idea what business you're in and perhaps you're booming, but just bear in mind it's a very odd time in history right now and it's worth having a decent buffer. Just my 2 cents, but I'm a cautious individual :nevreness:

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Originally Posted by M1011

Cool - good for you if you're financially in a position to do it.

However, your post does suggest that all things equal you'd prefer a steel Submariner, am I right? If so, why not just buy one grey? They're available in plentiful supply from grey dealers, just pick a trusted dealer (the forum can help) and you'll have a new Submariner on your wrist within a week that was sold in the Rolex AD likely days beforehand. Yes you'll pay a premium over RRP, but an awful lot less than the gold one you're planning the buy and the Subs tend to hold their premium over time anyway.

Just saying because it sounded like the steel was what you really wanted and you're viewing the gold as a necessary step. I may have got the wrong impression.

Is your deposit refundable?

Edit: Also take this with a pinch of salt and you probably know this better than I do, but don't forget that things like SIPP and ISA investments compound over time so getting money in early can pay much bigger dividends down the line. Also I have no idea what business you're in and perhaps you're booming, but just bear in mind it's a very odd time in history right now and it's worth having a decent buffer. Just my 2 cents, but I'm a cautious individual :nevreness:

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Thanks for your reply.

Honestly, I’d love the gold, over the SS. I’m a bit concerned about safety, and that might be where I’d prefer to wear an SS, but in my mind, know I have a gold at home, hence getting a quote for storing in a safe.

I’ve looked at grey dealers and know that is indeed an option, which I think I will have to resort to if I expect to own one. But where possible, I absolutely want to own and wear (comfortably) a gold sub. The sheer weight of it alone feels fantastic on the wrist.

My deposit is indeed refundable. At least the receipt says it is.

I’ve been putting £40k in my SIPP since I turned 19. I need to stop doing that soon because I will hit the lifetime allowance with medium growth. ISA is maxed out every year and this purchase won’t impact my ability to keep doing so. I agree that we are indeed in unprecedented times and I hedge that accordingly. The last £30k ‘purchase’ I made was my student loan several years ago and since then I’ve been living well within my means. Nothing extravagant. I’d like to buy this watch as a treat. As you say, Subs seem to hold their value and PM subs seem to be the same. This could also be considered a hedge against inflation — just one that you can wear on your wrist. In no way do I expect this however nor would I be disappointed if it lost value. This is for me.

Cheers

Does this site support uploading images, or should I put it on an external image service? The receipt is slightly ambiguous for deposits, although straight up purchases seem to be clearly explained. The sales guy said that it was 100% refundable and safe.

With any luck, I’ll hear from him in the next couple of days to confirm that he’s put me on the list for the new models.

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Originally Posted by samrolex94

Thanks for your reply.

Honestly, I’d love the gold, over the SS. I’m a bit concerned about safety, and that might be where I’d prefer to wear an SS, but in my mind, know I have a gold at home, hence getting a quote for storing in a safe.

I’ve looked at grey dealers and know that is indeed an option, which I think I will have to resort to if I expect to own one. But where possible, I absolutely want to own and wear (comfortably) a gold sub. The sheer weight of it alone feels fantastic on the wrist.

My deposit is indeed refundable. At least the receipt says it is.

I’ve been putting £40k in my SIPP since I turned 19. I need to stop doing that soon because I will hit the lifetime allowance with medium growth. ISA is maxed out every year and this purchase won’t impact my ability to keep doing so. I agree that we are indeed in unprecedented times and I hedge that accordingly. The last £30k ‘purchase’ I made was my student loan several years ago and since then I’ve been living well within my means. Nothing extravagant. I’d like to buy this watch as a treat. As you say, Subs seem to hold their value and PM subs seem to be the same. This could also be considered a hedge against inflation — just one that you can wear on your wrist. In no way do I expect this however nor would I be disappointed if it lost value. This is for me.

Cheers

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A very thorough reply, sounds like you know exactly what you're doing which is great :encouragement:

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Originally Posted by samrolex94

Does this site support uploading images, or should I put it on an external image service? The receipt is slightly ambiguous for deposits, although straight up purchases seem to be clearly explained. The sales guy said that it was 100% refundable and safe.

With any luck, I’ll hear from him in the next couple of days to confirm that he’s put me on the list for the new models.

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I think you'll have nothing to worry about if that's what you were told, although sounds like you'll not be wanting a refund anyway. I definitely would not post a picture of your receipt personally.

For general use though, yes you have to use a third party image host. I use Imgur as it's free and simple to use.

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

In less than 6 weeks it will be on your wrist, barring any covid19 surges. If an AD asked me for a deposit with expectation of a stainless sub in 12 months, I wouldn't hesitate. Better than being told 'you're on the list' which as I've learned is a polite way of letting you down.

That's great news! As I said, I have been 'on the list' for several watches at WoS without a deposit and never gotten any calls or further feedback. Happy to hear it sounds like yours will shortly work out; we'll look forward to seeing some photos of your new watch!

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Originally Posted by samrolex94

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

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Originally Posted by samrolex94

AD acknowledge my request saying they hope it will start to arrive soon.

I wasn’t asked to increase my deposit

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Any news Sam? Will it be the new shape 126618 now do you think?


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Originally Posted by Stonewood

Any news Sam? Will it be the new shape 126618 now do you think?


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Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

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Originally Posted by samrolex94

Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

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Ah nice. I would imagine ‘soon’ would actually mean SOON as can’t imagine there are many people wanting one of those like there are the Stainless steel subs! Fingers crossed for you.


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Originally Posted by samrolex94

Nothing yet. I contacted them on 1st Sept after the new lineup and the guy replied pretty quickly to say he'd put me down for the new model and that hopefully they will start arriving 'soon'.

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Sounds to me like you will get one soon. WoS aren't in the business of taking deposits for the sake of it.

Out of interest what line of business are you in? Glad to hear it is going well!

I have just received the call. It's ready.

Great - pleased for you, I'd have no issues putting down a 10% deposit on a watch I wanted if I got it in 3 months from a reputable dealer

Just got the payment details and made the payment. I'm very excited about this.

Congrats. Look forward to some pics!